G20 e-Trade Readiness Index ranks Australia highly on online trading

A new report released today that ranks the G20 countries on the degree to which they encourage (or discourage) internet enabled trade has ranked well ahead of other G20 nations.

A new report released today that ranks the G20 countries on the degree to which they encourage (or discourage) internet enabled trade has ranked well ahead of other G20 nations.

The first-ever G20 e-Trade Readiness Index, which was produced by eBay Inc and the Economist Intelligence Unit, found that despite the physical distance, Australia emerged on top of the rankings due to affordable internet access, well developed regulatory framework, and high smartphone penetration and e-payments adoption.

Tod Cohen, VP of Global Government Relations and Deputy General Counsel at eBay Inc, is in Sydney this week to meet with the B20 taskforce in support of its recommendations to reduce barriers to facilitate further trade.

“It is now more important than ever that we create a global environment that enables all businesses to reap the benefits of an interconnected world, with cross-border online shopping in Australia expected to increase 300 per cent in five years,” Cohen said. “However, the EIU index reinforces the need for business to work with industry, government and regulators to reduce barriers limiting the growth of cross border trade.

“At eBay Inc, we believe more can be done to create a level playing field for retailers and enterprises of all sizes, enabling them to reach global markets. Our vision for a more connected form of commerce is one that is more inclusive, open, and diverse – and e-trade readiness is at the core of making the vision a reality.”